Cano Asking Yankees For Nine Years, $250-$260MM

11:00pm: Cano asked for a nine-year deal at $28MM per year, reports ESPN's Buster Olney, a $252MM total that would match Alex Rodriguez's first free agent contract. He also wants a tenth year vesting option at $29MM. Olney says the Yankees are in the $170MM range, leaving a gap of around $80MM.

The Yankees have reportedly offered Cano a deal in the range of seven years and $168MM, which Davidoff notes would still make the second baseman among the highest-paid players in baseball. In addition, a second source says the much-discussed 10-year, $310MM offer floated by Cano's camp hasn't been in play since Cano became a free agent. Nevertheless, the two sides presently appear to be approximately $100MM apart. The Yankees are scheduled to meet again with Cano, who is represented by Jay-Z and CAA's Brodie Van Wagenen, on Monday.

Davidoff writes that the Yankees maintain they won't wait for Cano as they hold discussions with free agents such as Carlos Beltran, Shin-Soo Choo, Jacoby Ellsbury and Stephen Drew. The team also remains interested in Japanese pitcher Masahiro Tanaka. If the Yankees hit their budget limit without signing Cano, club officials say, they'll either move on or force Cano to agree to a much smaller deal than what's now under discussion.

Other potential destinations include the Tigers, the Mariners, the Rangers and the Nationals, and the Mets have met with Cano's representatives, Davidoff writes. However, he adds that no teams have publicly indicated significant interest in the infielder.